On 30th August (308), a new prime minister emerged from Japan. Changing Prime Ministers is nothing new in Japan, but what is new is that this prime minister is not from LDP, Liberal Democratic Party, which has ruled Japan for almost an eternity….
In the election on 30th August, LDP was defeated by DPJ, Democratic PArty of Japan, and a new era begins..
No one would have guessed 10 years back that LDP would become an opposition party one day. It was a dominant force in Japan and the heads of the various factions inside the pary has been taking turns to become the PM.
In fact when Prime Minister Mahathir took over in 1982, the model he was looking at was Japan, and his concept of Malaysian Incorporated was inspired by Japan incorporated, where politicians have close links with big businesses , civil service as well as the Japanese triads.
Japan was an economic miracles from the 60s to 70s, and their ‘ovaltine engine cars” have become ubiquitous in most countries of the world, and almost every household has something made in Japan.
However, with the close links between the various players mentioned above, asset prices became inflated , share prices went through the roof, and the economy became a bubble, which eventually burst. Japan has since not recovered from the bubble burst, and even though at one time interest rate was down to zero percent, economy stagnation continues. Just as its economy started to grow again, the present economic depression again drags down its economy and no one really knows when Japan will come out from its recession this time.
Coming back to Malaysia, Malaysia Incorporated pushed the country into a growth path in the 80s and early 90s. In the 90s , at one time, employment was so easy that a worker could just quit one job and the next day got another one with higher pay.
Malaysia Incorporated’s “success” led to cronyism, nepotism and corruption, which in turn led to loss of excellence and abuse of power and misues of institution for personal interest.
Looking at Japan’s example, and that of Kuomintang in Taiwan in the 90s, will Malaysia go the way of Taiwan and Japan? Will the wind of change of 308 become a typhoon and sweep the incumbents away? It is highly possible especially after the results of the 7 by elections since 308, and the party fights within the 2nd biggest component party.
If LDP can be voted out, then anything is possible in Malaysia…. Unless the opposition shoots itself in its own legs in the next couple of years, and cracked up even before the next GE. In that case, they have only themselves to blame for flunking a golden opportunity that is being presented to them on a silver platter.
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